Amazon tried to buy Netflix for $12 million in the late 1990s
Amazon offered $12 million to buy Netflix in the 1990’s but was turned down by the video streaming company, according to a new book about to go on sale.
“Netflixed” claims Jim Bezos, Amazon CEO, originally met Netflix founders Reed Hastings and Marc Randolph to discuss partnering the two companies. However, after Hastings indicated to Bezos that they might be interested in being bought outright, the Amazon chief dug into his pocket.
Sadly it seems he didn’t dig deep enough, with Hastings reported to have been “less than impressed with Amazon’s $12 million offer”.
Amazon has since denied that any such offer was made. Whether this is simply a case of Amazon wanting to distance itself from a missed business opportunity that could have earned the company billions of dollars is up for debate.
However, as well as owning Lovefilm Amazon has since gone on to launch its own instant video-streaming offering as part of its Amazon Prime service. Netflix’s Hastings has gone on record as describing Prime video as “a confusing mess".
Sour grapes or spot on?